Rep. Richard McCormick Sells Shares of BlackRock (NYSE:BLK)

Representative Richard McCormick (Republican-Georgia) recently sold shares of BlackRock (NYSE:BLK). In a filing disclosed on August 14th, the Representative disclosed that they had sold between $1,001 and $15,000 in BlackRock stock on July 30th. The trade occurred in the Representative’s “GROWTH PARTNERS ROTH IRA” account.

Representative Richard McCormick also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Medtronic (NYSE:MDT) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of NextEra Energy (NYSE:NEE) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of McDonald’s (NYSE:MCD) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of L3Harris Technologies (NYSE:LHX) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Johnson & Johnson (NYSE:JNJ) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Intercontinental Exchange (NYSE:ICE) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Illinois Tool Works (NYSE:ITW) on 7/30/2026.
• Sold $1,001 – $15,000 in shares of Home Depot (NYSE:HD) on 7/30/2026.

BlackRock Trading Down 2.1%

Shares of BlackRock stock opened at $1,148.91 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59. The stock’s 50 day simple moving average is $1,056.94 and its 200-day simple moving average is $1,042.81. The stock has a market cap of $177.93 billion, a P/E ratio of 27.46, a P/E/G ratio of 1.32 and a beta of 1.42. BlackRock has a 1-year low of $917.39 and a 1-year high of $1,219.94.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $12.69 by $1.22. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $6.73 billion. BlackRock had a net margin of 24.09% and a return on equity of 14.90%. BlackRock’s quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $12.05 earnings per share. Analysts predict that BlackRock will post 55.63 EPS for the current fiscal year.

BlackRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Tuesday, September 8th will be issued a $5.73 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $22.92 dividend on an annualized basis and a yield of 2.0%. BlackRock’s dividend payout ratio is presently 54.78%.

Wall Street Analysts Forecast Growth

BLK has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $1,389.00 price target on shares of BlackRock in a research note on Thursday, July 16th. JPMorgan Chase & Co. upgraded shares of BlackRock from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $1,165.00 to $1,364.00 in a report on Thursday, July 16th. Keefe, Bruyette & Woods cut BlackRock from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,258.00 price objective on shares of BlackRock in a research note on Thursday, July 16th. Finally, Evercore reissued an “outperform” rating and set a $1,260.00 target price on shares of BlackRock in a research note on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $1,311.06.

Hedge Funds Weigh In On BlackRock

Several large investors have recently bought and sold shares of the business. Brighton Jones LLC grew its stake in BlackRock by 23.1% during the 4th quarter. Brighton Jones LLC now owns 1,575 shares of the asset manager’s stock worth $1,615,000 after buying an additional 296 shares during the last quarter. Bison Wealth LLC grew its position in shares of BlackRock by 1.6% during the fourth quarter. Bison Wealth LLC now owns 1,052 shares of the asset manager’s stock worth $1,078,000 after acquiring an additional 17 shares during the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of BlackRock during the second quarter worth approximately $259,000. Nebula Research & Development LLC acquired a new position in shares of BlackRock in the 2nd quarter valued at $548,000. Finally, Osterweis Capital Management Inc. purchased a new position in BlackRock during the 2nd quarter worth $98,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

About Representative McCormick

Rich McCormick (Republican Party) is a member of the U.S. House, representing Georgia’s 7th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

McCormick (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 7th Congressional District. He declared candidacy for the 2026 election.

Rich McCormick lives in Suwanee, Georgia. McCormick served in the U.S. Marine Corps and the U.S. Navy. He earned an M.B.A. from National University and an M.D. from Morehouse School of Medicine. McCormick’s career experience includes working as an emergency medicine physician with Gwinnett Medical Center and Northside Hospital, a Marine officer instructor with Georgia Tech and Morehouse College, and a pilot.

BlackRock Company Profile

BlackRock, Inc is a global investment management firm that provides a broad range of products and services to institutional, intermediary and individual investors. Its core activities include portfolio management across active and index strategies, exchange-traded funds (ETFs) under the iShares brand, fixed income, equity and multi-asset solutions, as well as alternatives such as private equity, real estate and infrastructure. The firm also offers cash management and liquidity solutions and retirement-focused products designed for defined contribution and defined benefit investors.

In addition to traditional investment management, BlackRock is known for its technology and risk management capabilities, most prominently its Aladdin platform, which combines portfolio management, trading and risk analytics and is used both internally and licensed to external clients.